Encore Wire Co. (WIRE) VP Sells $474,016.20 in Stock
Encore Wire Co. (NASDAQ:WIRE) VP Frank J. Bilban sold 9,814 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $48.30, for a total value of $474,016.20. Following the completion of the sale, the vice president now owns 56,934 shares in the company, valued at approximately $2,749,912.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Shares of Encore Wire Co. (NASDAQ:WIRE) opened at $47.35 on Friday. The firm has a market capitalization of $1,004.34, a P/E ratio of 20.19, a P/E/G ratio of 2.08 and a beta of 2.31. Encore Wire Co. has a fifty-two week low of $37.30 and a fifty-two week high of $49.75.
Encore Wire (NASDAQ:WIRE) last released its quarterly earnings results on Tuesday, October 31st. The electronics maker reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.12. The business had revenue of $292.00 million for the quarter, compared to analysts’ expectations of $279.60 million. Encore Wire had a return on equity of 8.42% and a net margin of 4.53%. The company’s revenue was up 23.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.29 EPS. research analysts forecast that Encore Wire Co. will post 2.32 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Shareholders of record on Friday, January 5th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date of this dividend is Thursday, January 4th. Encore Wire’s dividend payout ratio (DPR) is presently 3.35%.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Encore Wire from a “sell” rating to a “hold” rating in a report on Thursday, October 5th. Sidoti upgraded Encore Wire from a “neutral” rating to a “buy” rating and set a $58.00 price target on the stock in a report on Wednesday. TheStreet upgraded Encore Wire from a “c+” rating to a “b” rating in a report on Monday, October 23rd. Finally, BidaskClub cut Encore Wire from a “hold” rating to a “sell” rating in a report on Monday, August 14th.
Large investors have recently made changes to their positions in the business. Prudential Financial Inc. grew its holdings in Encore Wire by 80.9% during the 2nd quarter. Prudential Financial Inc. now owns 71,870 shares of the electronics maker’s stock valued at $3,069,000 after buying an additional 32,140 shares during the last quarter. Vanguard Group Inc. grew its holdings in Encore Wire by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 1,833,564 shares of the electronics maker’s stock valued at $78,294,000 after buying an additional 50,586 shares during the last quarter. Heartland Advisors Inc. grew its holdings in Encore Wire by 9.3% during the 2nd quarter. Heartland Advisors Inc. now owns 293,597 shares of the electronics maker’s stock valued at $12,537,000 after buying an additional 25,000 shares during the last quarter. Granite Investment Partners LLC grew its holdings in Encore Wire by 6.1% during the 3rd quarter. Granite Investment Partners LLC now owns 290,914 shares of the electronics maker’s stock valued at $13,026,000 after buying an additional 16,818 shares during the last quarter. Finally, Citadel Advisors LLC grew its holdings in Encore Wire by 42.5% during the 2nd quarter. Citadel Advisors LLC now owns 15,109 shares of the electronics maker’s stock valued at $645,000 after buying an additional 4,505 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.
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Encore Wire Company Profile
Encore Wire Corporation is a manufacturer of electrical building wire and cable. The Company is a supplier of building wire for interior electrical wiring in commercial and industrial buildings, homes, apartments, and manufactured housing. The Company manufactures electric building wire, principally NM-B cable, for use primarily as interior wiring in homes, apartments and manufactured housing, and THHN/THWN-2 cable and metal-clad and armored cable for use primarily as wiring in commercial and industrial buildings.
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